Jim Grant Discusses Central Banks’ Money Printing, and the Farmland Bubble

Here is an interesting video on Bloomberg with Jim Grant regarding the European Central Bank’s response to the sovereign-debt crisis, ECB policy, Fed policy, central bank printing, and farmland.

Grant notes that farmland in Iowa is going for $17,000 an acre far above the rental value of the land. Grant does not use the term bubble, but does suggest this is the wrong time to buy.

Bubble is the correct term.

Mike “Mish” Shedlock